In CBI’s Biggest Bank Fraud Case, Raids On Shadow Lender DHFL Promoters

Story Highlights
  • CBI books former DHFL officials in India's biggest fraud case.
  • The scam amount has surpassed the recently claimed biggest scam amount led by ABG Shipyard.
  • 12 locations owned by the accused being raided.

Mumbai: The CBI has registered India’s biggest bank fraud case of allegedly cheating a consortium of 17 banks. A case has been registered against Kapil Wadhawan and Dheeraj Wadhawan of DHFL. Reportedly a scam of Rs 34,615 is being classified by the probing agency.

Search is being carried out at 12 locations in Mumbai at the premises of the accused, sources in the know have said. The agency has booked the Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan, the then CMD, Dheeraj Wadhawan, the director and six realtor companies for allegedly being part of a criminal conspiracy to cheat the consortium led by the Union Bank of India to the tune of ₹34,615 crores, the officials told in a media briefing.

It is learnt that the case was registered based on a complaint filed by the bank on February 11, 2022. According to the FIR, the scam took up shape between April and June 2018 when Yes Bank Bank invested ₹3,700 crores in short-term debentures of scam-hit DHFL. In return, Wadhawan allegedly “paid kickback of ₹600 crore” to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd.

This scam has surpassed the fraud amount of Rs 23,000 crore by ABG Shipyard.

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